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Modern Mill

Operating

Sustainable Lumber, Inc.

Agriculture · Fernwood, MS

Modern Mill is an innovative US-based manufacturer of sustainable building materials made from upcycled rice hulls, generating over $20M in 2024 revenue, has established national distribution, and has secured $84M in funding to expand its impact.

Post-money valuation ⓘ
$453.2M
As of Dec 2025 · from Reg CF Offering (2025) · pre-money + amount raised, not a traded price
Total raised
$85,881,420
Crowd $3.2M · Private $82.7M · 3 rounds since 2018
Latest share price
$1.88
Reg CF · Class 1 Common Stock · Apr 2025 offering price

Financials

FY2023–FY2025 · from SEC filings · hover any figure for its source
$19.1M
−$11.4M
2023
$20.5M
−$12.2M
2024
$25.8M
−$12.1M
2025
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2023 audited
FY2024 audited
FY2025 audited
Income statement
Revenue
$19,062,315
$20,471,799
$25,814,042
Cost of goods sold
$19,729,712
$21,988,877
$20,406,773
Gross margin
-4%
-7%
21%
Net income
-$11,423,751
-$12,151,634
-$12,085,748
Taxes paid
$0
$0
$0
Balance sheet
Cash
$543,459
$2,072,389
$18,459,464
Accounts receivable
$1,571,872
$0
$849,801
Total assets
$45,903,023
$38,955,923
$45,880,589
Short-term debt
$20,576,696
$9,106,881
$7,435,977
Long-term debt
$3,251,698
$0
$1,424,401
Total liabilities
$23,828,394
$9,106,881
$8,860,378
Other
Headcount
—
10
155

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$450.0M
pre-money
Reg CF · Class 1 Common · Apr 2025

Blue bars are the pre-money valuation the company stated for a priced round.

Share price over rounds

log scale
$19.9284$4.4641$1.00
Dec 2018Dec 2025
Round offering price or verified disclosed saleDisclosed sale, unverified or year-only

Disclosed sales come from the issuer's own filings (prior-offering lines, audited-statement notes) and are amount ÷ securities sold. A down round is a firm point more than 25 % below the previous firm point of the same share class on a comparable basis; the comparison ignores unverified and year-only lines, and each class is drawn as its own line.

Cap table

Share counts as of Apr 30, 2026
Series C Preferred Stock · 5.41%Series A Preferred Stock · 15.1%Series B Preferred Stock · 12.1%Class B Common Stock · 50.2%Class A Common Stock · 17.1%
ClassOutstandingVotes / shareShare of totalVotesLiquidationDividendLast price
Series C Preferred Stockpreferred12,941,40015.41%0.98%paid 1st4% cumulative—
Series A Preferred Stockpreferred36,195,000—15.1%2.74%———
Series B Preferred Stockpreferred29,033,055—12.1%2.2%———
Class B Common Stock120,000,0001050.2%91.0%———
Class A Common Stock40,931,250117.1%3.1%———
Total239,100,705100%100%

Principal holders% as the filing states it, Apr 30, 2026

  • Chris Guimond244,785 Class A Common Stock21.7%of company
  • David Guimond244,785 Class A Common Stock21.7%of company
  • Everyone else (not named in filings)56.6%

Sold to the crowd

From the company's SEC filings: share counts per class, each class's voting and conversion terms, and the holders of 20% or more that Form C requires (officers and 10%+ holders on Form 1-A). Filings name only large holders, so most owners — including crowd investors — are not listed, and a holder's percentage may be of its own class rather than of the whole company. Prices and crowd share counts are in today's share terms — adjusted for splits and conversions since they were sold. Hover a figure for its filing.

Fundraising history

Raised $3.2M / $5MInvestors 1,930Post-money $453.2M
Raised $58.6MInvestors 5
Raised $24.1MInvestors 7

Team

10 people
Chris Guimond
CEO, President, Secretary, Chairman of the Board of Directors

As Founder and CEO, Chris brings visionary leadership and boundless energy to Modern Mill. Under his guidance, the company has evolved from a concept into a national leader in building materials manufacturing. With a bachelor’s and master’s degree in plastics engineering, Chris’ deep technical expertise drives our success. Prior to Modern Mill, he co-founded, built and sold a global raw materials company that achieved over $1 billion in revenue through integrated trading and distribution operations.

William Pax
Chief Financial Officer

Bill Pax serves as Chief Financial Officer (CFO) at Modern Mill, bringing over three decades of financial leadership across manufacturing and distribution sectors. In his role, Bill oversees financial strategy, capital planning, and risk management, driving fiscal discipline and reporting for investors and stakeholders. Prior to his appointment as CFO, Bill was Modern Mill's Director of Finance, where he led the company's financial close, reporting, and audit functions. Previously, he served as Financial Reporting Manager at Atlantic Alumina, responsible for preparing consolidated financial statements under both US GAAP and IFRS, supporting cross-border compliance and investor confidence. Earlier in his career, Bill held key roles in FP&A and corporate accounting at ArcelorMittal. He also worked in state and local tax at KPMG.

David Guimond
CFO, VP, Asst. Secretary and Director
Kim Dellarocca
VP of Marketing

As a founding member of Modern Mill and VP of Marketing, Kim brings 20+ years of brand-building expertise to Modern Mill. Her innovative approach has transformed a traditional building material product into a lifestyle brand, creating loyal fans and attracting partnerships with Fortune 200 companies. Under her leadership, Modern Mill has earned recognition as a Fast Company Most Innovative Company and numerous other accolades. Kim's vision has redefined how consumers view building materials, creating authentic connections with customers and helping to drive the company's rapid market expansion. Prior to Modern Mill, Kim led marketing and strategy teams for Wall Street firms and ad agencies.

Rob Shugdinis
VP of Technology

Robert (Rob) Shugdinis serves as Vice President of Technology at Modern Mill, bringing his deep understanding and expertise in materials science to the organization. Rob has been with Modern Mill since its inception, contributing his technical leadership to the company's growth and innovation. Prior to joining Modern Mill, Rob was a founding member of Kleer, where he established himself as a notable figure in the materials science industry. His entrepreneurial background combined with his technical expertise has been instrumental in advancing Modern Mill's position in the materials development sector.

Steve Sparich
VP of Operations

As Vice President of Operations, Steve combines technical expertise with operational excellence at Modern Mill. Steve’s leadership spans all aspects of Modern Mill's day-to-day production, where he consistently optimizes processes while maintaining the highest quality standards. Prior to Modern Mill, Steve led Research and Development at Royal Building Products, a Westlake Company. Steve’s strong R&D background, operational acumen and leadership ensure Modern Mill's continued innovation in sustainable building materials production.

Tony Ellis
Head of Growth

As Chief Revenue Officer, Tony brings extensive building products expertise and proven sales leadership to Modern Mill. His career includes driving growth at industry leaders like Universal Forest Products (UFP), where he led a transformation of sales and operational processes. Prior to Modern Mill, he served in executive roles at Elementia and Allura, where his strategic leadership expanded distribution networks and delivered consistent 20% annual revenue growth. Drawing on leadership principles gained during his service in the United States Marine Corps, Tony excels at building high-performing teams and developing collaborative partnerships. His understanding of the building materials industry and commitment to team development are fundamental to Modern Mill's success.

Jon Gilbert
Director
Mitch Lynn
Director
Show 1 more person
Nick Oliva
Director

Names and titles as disclosed on SEC Form C, StartEngine. Bios and photos come from the platform campaign page and may be out of date.

Reg CF annual-report compliance

Compliant

Filed 2 of 1 annual reports (FY2025)

1,930 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

  • Form C-ARApr 30, 20260001764003-26-000004
    EDGAR
  • Form C-UFeb 4, 20260001764003-26-000001
    EDGAR
  • Form C/ADec 16, 20250001764003-25-000011
    EDGAR
  • Form C/ASep 12, 20250001665160-25-001423
    EDGAR
  • Form C/AJul 17, 20250001665160-25-001298
    EDGAR
  • Form C-ARApr 29, 20250001665160-25-000812
    EDGAR
  • Form C/AApr 29, 20250001665160-25-000811
    EDGAR
  • Form CApr 10, 20250001665160-25-000595
    EDGAR
Source: SEC EDGARCIK 0001764003DEShare price $1.88Last synced Aug 17, 2026

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.